Free Terminals
There is no such thing as a “Free Credit Card Terminal”!
Free Terminals have become a great sales tactic solely to entice merchants into signing with a particular company. The cost of the terminal is “hidden” in your rates, cancellation fee or terms and conditions.
Please, don’t be fooled by the “Free Terminal” sales pitch. If a sales agent or company is offering a free terminal for your merchant account, read their fine print.
Terminal Leasing
Beware of Terminal Leasing programs!
Simply put, leasing a Credit Card Processing Terminal is one of the worst decisions a business owner could make. Terminal leasing was created so that credit card processing firms could generate a tremendous amount of up front revenue for their sales agents.
Why pay $3000 to $5000 for a terminal that you can purchase for as little as $249? To add insult to injury, once you sign a terminal leasing agreement, you are locked into a lease agreement for 48 months with signficant personal credit issues should you terminate the agreement.
Before leasing a credit card terminal, consider your options.
Example of Typical Lease Terms:
- Lease payment per month
- $55
- Lease term (months)
- X 48
- Total Lease Payments
- $2,640
- Republic Terminal Cost
- $299